AIB director defends €59k salary for 60 days work

More news regarding the ‘public interest directors’ of the banks.

http://www.breakingnews.ie/ireland/aib-director-defends-59k-salary-for-60-days-work-578532.html

“20/12/2012 - 14:00:04
Former Tánaiste Dick Spring, who represents the taxpayer on the board of AIB, has defended his salary as "reasonable".
Mr Spring is a public interest director at the bank and was paid €59,000 for 60 days work last year.
He also receives one of the largest state pensions of more than €121,000.

The former Labour Party leader said the pay is appropriate for the work he does and that he has turned down higher paying jobs.
Mr Spring said: "My pension as a former deputy, which you will be entitled to in time, and as a former minister you will achieve a ministerial pension if you enter ministerial office, and I think you will be perfectly entitled to it.

"There is another way of looking at this, I have turned down numerous invitations to take up other positions which would be equally, if not more lucrative, than working for Allied Irish Bank, I have turned them down."

Meanwhile, the Government nominee to the board of AIB has said there will be "no divine mercy" when it comes to dealing with homeowners in arrears.
Michael Somers has told the Oireachtas Finance Committee that while people won't be thrown out on the streets, this is an issue that will have to be dealt with.”